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ESMA publishes draft RTS on CRA3 transparency requirements
June 24, 2014--The European Securities and Markets Authority (ESMA) has published its Final Report on draft Regulatory Technical Standards (RTS) required under the Credit Rating Agencies (CRA3) Regulation regarding information on transparency of structured finance instruments, the European Rating Platform and periodic reporting of fees charged by credit rating agencies.
The draft RTS, which complement the existing regulatory framework for credit rating agencies (CRAs), cover:
disclosure requirements on structured finance instruments (SFIs);
the European Rating Platform (ERP); and
the periodic reporting on fees charged by CRAs.
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Source: ESMA
Source slashes price of S&P 500 ETF to just 0.05%
June 23, 2014--Source, one of Europe's leading providers of exchange-traded funds, has slashed the management fee on its S&P 500 ETF.
At just 0.05%, or five basis points, the Source S&P 500 UCITS ETF (SPXS) is now one of the most aggressively priced ETFs globally.
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Source: etfstrategy.co.uk
Source slashes price of S&P 500 ETF to just 0.05%
June 23, 2014--Source, one of Europe's leading providers of exchange-traded funds, has slashed the management fee on its S&P 500 ETF.
At just 0.05%, or five basis points, the Source S&P 500 UCITS ETF (SPXS) is now one of the most aggressively priced ETFs globally.
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Source: etfstrategy.co.uk
Q&A IX on EMIR Implementation
June 23, 2014--The Q&A,s purpose is to promote common supervisory approaches and practices in the application of EMIR.
It provides responses to questions posed by the general public, market participants and competent authorities. The Q&As are aimed at national competent authorities to ensure convergent supervisory activities. It should also help investors and other market participants by providing clarity on the requirements under EMIR.
This is the 9th update of the EMIR Q&A.
Lyxor to convert three blue-chip ETFs to physical replication
June 23, 2014--Europe's third largest provider of exchange-traded funds, has announced that three of its largest ETFs are to be converted to physical replication.
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Source: etfstrategy.co.uk/
Amundi launches seven new fixed income ETFs, of which four are unprecedented
June 23, 2014--Amundi ETF is pursuing its development by listing seven new fixed-income ETFs on NYSE Euronext in Paris. Four of these products are being launched in Europe for the first time demonstrating once again Amundi ETF's capacity for innovation.
This new listing comprises:
A full range of ETFs tracking a family of both "long" and "short" US Treasury bonds indices. This includes three ETFs that seeks to replicate as closely as possible the Markit iBoxx $ Treasuries 1-3Y(R), the Markit iBoxx $ Treasuries 3-7Y(R), and the Markit iBoxx $ Treasuries 7-10Y(R) indices. The range also consists of three unprecedented "Short" ETFs* offering a daily inverse performance to the evolution of the same indices and the same buckets of maturities.
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Source: Crédit Agricole Group
ETFs explode in popularity among small investors
June 20, 2014--Exchange traded funds can charge as little as 0.1% in fees-and allow you to follow indices from Azerbaijan to Vietnam
They sound like an obscure financial instrument for City traders only. But exchange traded funds (ETFs), which track a huge range of markets and commodities, are exploding in popularity among small investors in Britain and across the globe.
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Source: The Guardian
Euronext shares slip below offer price after IPO
June 20, 2014--Euronext, the European exchanges operator, had an inauspicious debut on its own markets on Friday as its shares fell 3 per cent below the price set for its initial public offering.
Its stock was fully subscribed and priced at £20 a share, the low end of its indicated £19-to £25-a-share range.
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Source: FT.com
EC-June 2014: Flash Consumer Confidence Indicator
June 20, 2014--In June 2014, the DG ECFIN flash estimate of the consumer confidence indicator remained broadly stable in both the EU (-0.2 points to -4.3) and the euro area (-0.3 points to -7.4) compared to May.
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Source: Europa
2014 Article IV Consultation with the Euro Area Concluding Statement of the IMF Mission
June 19, 2014--1. The euro area recovery is taking hold. Real activity has expanded for four consecutive quarters. An incipient revival in domestic demand is adding to the impetus from net exports. Financial market sentiment has improved dramatically, particularly after the recent ECB measures. Sovereign and corporate yields are now at historic lows in many countries, and lower funding costs have helped banks raise more capital.
2. Strong policy actions have boosted investor confidence and laid the foundations for recovery. At the national level, governments have made progress in repairing sovereign and bank balance sheets and pursuing structural reforms to restore competitiveness. At the area-wide level, policy makers have demonstrated collective commitment to the EMU, for example, through progress on building a banking union. And the ECB has taken a wide range of measures to support demand and address fragmentation. The ECB's Comprehensive Balance Sheet Assessment to be completed later this year is encouraging recapitalization and helping boost confidence in the banking system.
3. But the recovery is neither robust nor sufficiently strong.
Activity and investment have yet to reach pre-crisis levels. The recovery of private investment has been weaker than in most previous recessions and financial crises. In the first quarter of 2014, growth was weaker than expected and unevenly distributed across countries.
Balance sheets are still impaired and debt levels elevated. Public debt levels remain high. Weakness in banks' balance sheets inhibits the flow of credit and corporate and household debt overhangs impede demand.
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Source: IMF
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